Victory Capital Management Inc. Makes New $321,000 Investment in Old Second Bancorp, Inc. (NASDAQ:OSBC)

Victory Capital Management Inc. purchased a new position in shares of Old Second Bancorp, Inc. (NASDAQ:OSBC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,583 shares of the financial services provider’s stock, valued at approximately $321,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Old Second Bancorp by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,423,983 shares of the financial services provider’s stock valued at $33,548,000 after acquiring an additional 45,955 shares in the last quarter. Boston Partners lifted its position in shares of Old Second Bancorp by 300.6% in the first quarter. Boston Partners now owns 55,735 shares of the financial services provider’s stock valued at $771,000 after acquiring an additional 41,821 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Old Second Bancorp in the second quarter valued at approximately $759,000. SG Americas Securities LLC purchased a new position in shares of Old Second Bancorp in the second quarter valued at approximately $260,000. Finally, AQR Capital Management LLC lifted its position in shares of Old Second Bancorp by 20.1% in the second quarter. AQR Capital Management LLC now owns 307,995 shares of the financial services provider’s stock valued at $4,561,000 after acquiring an additional 51,652 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Old Second Bancorp Price Performance

OSBC stock opened at $18.60 on Friday. The business has a fifty day moving average of $16.86 and a two-hundred day moving average of $15.93. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $834.27 million, a price-to-earnings ratio of 10.05 and a beta of 1.06. Old Second Bancorp, Inc. has a 52-week low of $13.00 and a 52-week high of $19.37.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $71.16 million during the quarter, compared to analysts’ expectations of $70.95 million. Old Second Bancorp had a return on equity of 13.81% and a net margin of 25.02%. As a group, research analysts anticipate that Old Second Bancorp, Inc. will post 1.95 earnings per share for the current year.

Old Second Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 25th. This is a boost from Old Second Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.29%. Old Second Bancorp’s payout ratio is presently 12.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OSBC shares. DA Davidson set a $18.00 price target on Old Second Bancorp in a report on Thursday, October 17th. Raymond James cut Old Second Bancorp from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $19.00 to $18.00 in a report on Tuesday, September 17th. Finally, Piper Sandler increased their price target on Old Second Bancorp from $22.50 to $23.00 and gave the company an “overweight” rating in a report on Friday, October 18th.

Old Second Bancorp Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.